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https://twitter.com/chamath/status/19647373576489656612/ A sample can be done extremely quickly. The unemployment rate & CPI are both based on samples, of households, and consumer spending outlets, & thus come out quickly and are never revised (except for seasonal adjustment). This imparts a false sense of precision and finality.
https://twitter.com/SpencerHakimian/status/19108456099525513532/ That may be true now, but not when Apple went to China 25 years ago. Apple had factories (& skills) in U.S. at the time. Cook came to Apple in 1998 to run operations, closed those factories and, imitating Dell & Compaq, offshored production to Asia. wsj.com/articles/tim-c…
https://twitter.com/michaelxpettis/status/17047895343726922712/ Does protection raise productivity and wages? If that were universally true, India and Brazil would have the world's highest wages. It worked for east Asia because it went hand in hand with export orientation, high investment, and businesses that learned & adapted quickly.